By FXEmpire.com
Silver Fundamental Analysis April 5, 2012, Forecast
Analysis and Recommendations:
REMEMBER, MOST GLOBAL MARKETS ARE CLOSED ON FRIDAY APRIL 6, 2012 AND MANY ARE CLOSED ON MONDAY APRIL 9, 2012 ALSO. VOLUME WILL BE LIGHT AND TRADERS WILL BE POSITIONING THEMSELVES FOR THE LONG HOLIDAY WEEKEND. ECONOMIC REPORTS WILL CONTINUE TO BE RELEASED ON FRIDAY, IN THE US THE NON FARMS PAYROLL REPORTS WILL BE ISSUED ON FRIDAY
The Silver is trading at 31.83 down -1.882 as metals were hit hard by the global sell off. Gold and silver futures sank Wednesday, joining a selloff in stocks and commodities after minutes from the U.S. Federal Reserve’s latest policy meeting undercut expectations for further monetary stimulus.
Gold slumped $52, or 3.1%, to $1,620 an ounce on the Comex division of the New York Mercantile Exchange.
Silver futures also posted sharp losses hitting the low of 30.978
Economic Events April 4, 2012 actual v. forecast
|
AUD |
Trade Balance |
-0.48B |
1.00B |
-0.97B |
|
GBP |
Halifax House Price Index (MoM) |
2.2% |
-0.3% |
-0.4% |
|
GBP |
Services PMI |
55.3 |
53.5 |
53.8 |
|
EUR |
Retail Sales (MoM) |
-0.1% |
0.1% |
1.1% |
|
EUR |
German Factory Orders (MoM) |
0.3% |
1.2% |
-1.8% |
|
PLN |
Polish Interest Rate Decision |
4.50% |
4.50% |
4.50% |
|
EUR |
Interest Rate Decision |
1.00% |
1.00% |
1.00% |
|
USD |
Treasury Secretary Geithner Speaks |
|||
|
RUB |
Russian CPI (MoM) |
0.6% |
0.5% |
0.4% |
|
USD |
ADP Nonfarm Employment Change |
209K |
200K |
230K |
|
EUR |
ECB Press Conference |
|||
|
USD |
ISM Non-Manufacturing Index |
56.0 |
57.0 |
57.3 |
Economic Events scheduled for April 5, 2012 that affect the American Markets
13:30 USD Initial Jobless Claims 355K 359K
13:30 USD Continuing Jobless Claims 3350K 3340K
Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week. Continuing Jobless Claims measures the number of unemployed individuals who qualify for benefits under unemployment insurance. Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.
Originally posted here
